We mentioned yesterday that oil service companies were surging thanks to the realisation that as Mideast despots promise more benefits to their people, they’ll have to crank up production, and that means a lot more work and pricing power for the servicing companies.
Saudi Arabia is the prime example of a country busting out all the stops and pumping more to stave off revolution.
Well, one company that’s been surging the last two days? The much-reviled Halliburton, which is now at a 52-week high. Another reason to hate ’em! (via @chicagosean)